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Jan 17, 2022

   

Industry News

Labour shortage threatens to put mining industry on shaky ground

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Major Drilling Group International (TSX: MDI) had an early Christmas present for investors in December. The specialized drilling services company reported a 50% increase in revenue in the second quarter of the 2022 fiscal year ended Oct. 31, 2021, compared to the same period last year, and a doubling of its net earnings year-over-year.

But underneath the rosy performance, which the company attributed to increasing mining exploration activity, Major Drilling highlighted a potential headwind: a shortage of skilled drill teams.

“It’s certainly a challenge right now,” Ian Ross, chief financial officer of the Moncton-based company, told The Northern Miner in an interview. He said it hasn’t impacted the business yet, but “that would be, from our standpoint, one barrier to growth. Some people would think it’s machinery and equipment, but it’s a labour constraint.”

Read the full article from Mining.com HERE